DTCC Starts Pilot for Tokenized Stocks and Treasuries with 40 Financial Institutions

The Depository Trust & Clearing Corporation (DTCC) has launched a pilot program to test tokenized stocks and U.S. Treasuries. The initiative involves nearly 40 financial institutions, including prominent names like JPMorgan Chase, Goldman Sachs, and the New York Stock Exchange.

Nadine Chakar, global head of DTCC Digital Assets, emphasized that this pilot aims to demonstrate the value of tokenization and build a foundation for a scalable launch anticipated in October. The goal is to prove how tokenized assets can integrate with current financial systems.

The pilot will focus on blockchain-based versions of stocks, ETFs, and U.S. Treasuries, examining their functionality within existing market structures. DTCC processed an astounding $4.7 quadrillion in securities transactions in 2025. Tokenization has gained traction as traditional financial institutions increasingly explore blockchain technology.

Industry data shows real-world asset protocols exceeded $10 billion in total value locked in May 2025, with the trend accelerating since then. This development comes after Robinhood launched its own Ethereum layer-2 network designed for trading tokenized stocks and other assets.